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<blockquote style="position: relative; padding-left: 55px;"><section><a href="https://aus.social/users/twasink/statuses/112997828335614155">Robert Watkins (twasink@aus.social)'s status on Wednesday, 21-Aug-2024 20:03:03 JST</a><a href="https://aus.social/@twasink" title="twasink@aus.social"><img src="https://gnusocial.jp/avatar/148415-48-20240821110303.webp" width="48" height="48" alt="Robert Watkins" style="position: absolute; left: 0; top: 0;">Robert Watkins</a></section><article><p>I have no sympathy for the banks. Leveraged buyouts are a cancer, and should never have been legalised. </p><p>The act of transferring debt from the buyer to the bought is an accounting trick used to make the rich richer. If Musk needed to borrow money to get the liquid capital to buy Twitter, that should have been his debt - not Twitter’s <a href="https://fortune.com/2024/08/20/elon-musk-tesla-twitter-leveraged-buyout-debt-banks-barclays/" rel="nofollow noreferrer">https://fortune.com/2024/08/20/elon-musk-tesla-twitter-leveraged-buyout-debt-banks-barclays/</a></p></article><footer><a rel="bookmark" href="https://gnusocial.jp/conversation/3548612#notice-6966149">In conversation</a><time datetime="2024-08-21T20:03:03+09:00" title="Wednesday, 21-Aug-2024 20:03:03 JST">about 6 months ago</time> <span>from <span><a href="https://aus.social/@twasink/112997828335614155" rel="external" title="Sent from aus.social via ActivityPub">aus.social</a></span></span><a href="https://aus.social/@twasink/112997828335614155">permalink</a><h4>Attachments</h4><ol><li><article><header><div>Domain not in remote thumbnail source whitelist: fortune.com</div><h5><a href="https://fortune.com/2024/08/20/elon-musk-tesla-twitter-leveraged-buyout-debt-banks-barclays/">Elon Musk’s Twitter deal may be the worst leveraged buyout deal for banks since Lehman, raising risks to Tesla</a></h5><div> from <span>Christiaan Hetzner</span></div></header><div>Banks had hoped to package and sell Musk's LBO debt to investors. Instead, it's sat on their balance sheet, tying up capital, for almost two years.</div><footer></footer></article></li></ol></footer></blockquote>

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Robert Watkins (twasink@aus.social)'s status on Wednesday, 21-Aug-2024 20:03:03 JST Robert Watkins
I have no sympathy for the banks. Leveraged buyouts are a cancer, and should never have been legalised.
The act of transferring debt from the buyer to the bought is an accounting trick used to make the rich richer. If Musk needed to borrow money to get the liquid capital to buy Twitter, that should have been his debt - not Twitter’s https://fortune.com/2024/08/20/elon-musk-tesla-twitter-leveraged-buyout-debt-banks-barclays/
In conversationabout 6 months ago from aus.socialpermalink
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1. Domain not in remote thumbnail source whitelist: fortune.com
  Elon Musk’s Twitter deal may be the worst leveraged buyout deal for banks since Lehman, raising risks to Tesla
  from Christiaan Hetzner
  Banks had hoped to package and sell Musk's LBO debt to investors. Instead, it's sat on their balance sheet, tying up capital, for almost two years.

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